Entries by Keller & Owens

6 Ways to Avoid a Credit Card Catastrophe

Do you feel like your credit card spending is out of control? Credit cards should be a convenient short-term way to pay, not a source of regular spending. Unfortunately, some people have a hard time staying true to this concept. Instead of paying off the entire balance due on the card each month, they let […]

Why a Business Appraisal is Your Best Friend

For many business owners, business appraisals can provide vital planning information and help mitigate risk. Consider what it may be able to do for you: Establish a verifiable value for your business. This can show whether assets have appreciated at a reasonable rate. If not, you may need to adjust your firm’s strategy. Create documentation […]

Here’s a Roundup of Your Nontaxable Income

Good news – there are a lot of revenue sources that aren’t taxed. Do you know what they are? Here are the most common sources of money that are generally not taxed on your federal income tax return: Borrowed money, such as from banks or personal loans Money received as a gift or inheritance from […]

How to Get Your Marriage Off to a Good Financial Start

Don’t say “I do” until you’ve said a lot more to your spouse about finances. Wedding season is upon us. Did you know couples often enter into marriage without ever having had a discussion about financial issues? As a result, they find themselves frequently arguing about money. If you are planning a wedding, here are […]

Want a Successful Business? Delegate

Even though delegating work may seem like a no-brainer, it’s often not the first idea that comes to mind when you’re contemplating how to get things done at work. It’s easy to get in the mindset that if you want things done the right way you have to do them yourself. But that isn’t always […]

What the Tax Reform Act Means for You

Revised: 12/28/2017 Congress has passed a tax reform act that will take effect in 2018, ushering in some of the most significant tax changes in three decades. There are a lot of changes in the new act, which was signed into law on Dec. 22, 2017. You can use this memo as a high-level overview […]

Five Home Office Deduction Mistakes

If you operate a business out of your home, you may be able to deduct a wide variety of expenses. These may include part of your rent or mortgage costs, insurance, utilities, repairs, maintenance, and cleaning costs related to the space you use. But the home office tax deduction is a tricky area of the […]

The Rules for Withdrawing from a 529 College Savings Plan

After years of putting money in your 529 college savings plan, you’re ready to start taking withdrawals to pay tuition bills. Do you know the rules for keeping the withdrawals tax-free? Here’s an overview of three types of 529 plan distributions. Qualified withdrawals. When you take money from the account to pay for college education expenses […]

New Job? Four Choices for Your Existing 401(k)

Changing jobs and companies can be an exciting opportunity, but you have a choice to make. What will you do with the retirement savings you have built in your 401(k)? Consider these four options: Withdraw the money and don’t reinvest it. This is usually the worst choice you can make. Generally, you’ll owe taxes on […]